There are only 85 days until 2024! The Chinese Lunar New Year will be here in 125 days!
Have you achieved the goals you set for 2023, such as your savings plan? Have all your expectations of buying a house or a car come true? Are promotions and salary increases what you want?
2024 will definitely be more difficult than this year 2023. Think tanks predict that Malaysia’s economic growth will be only 3.7% this year, and it will be even lower in 2024.
High interest rates, food inflation and rising costs have prevented Chinese people from consuming, and the weak global economy has also led to a sluggish export of our country. The rising cost of living has caused Chinese people to postpone or reduce non-essential expenditures, while rising inflation and the depreciation of the ringgit have also led to a decrease in the purchasing power of Chinese people.
The targeted subsidy plan that the government plans to launch in 2024 may also cause a new round of inflation after it is implemented, which will undermine consumer confidence.
However, as the saying goes, every year is difficult and every year passes, so there is no need to be too pessimistic.
